The looming labor strikes, particularly from the International Longshoremen's Association, could cost the U.S. economy upwards of $5 billion per day.
If the strike occurs, food prices, especially perishables like bananas, may rise sharply due to supply interruptions at East Coast ports.
The ILA is demanding an 80% pay increase over six years, which represents a significantly higher ask compared to last year's West Coast dockworkers' contract.
With the expiration of the ILA contract and failed negotiations, the outcome could have devastating impacts on the recovering U.S. economy.
#labor-strikes #economy #international-longshoremens-association #contract-negotiations #supply-chain
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